General Santos City – Region XII’s economy expanded by 6.6 percent in 2022. The growth was within the annual target of 5.9 to 6.9 percent. The increased economic activities brought about by the fully reopened economy which started in the last quarter of CY 2022 drove the economy’s growth during the period.
The Philippine Statistics Authority (PSA) XII announced the notable improvement in the region’s economy valued at PhP 503.6 Billion, exceeding the Php 472.5 Billion in the preceding year, during the News Conference on SOCCSKSARGEN Region’s 2022 Economic Performance held on April 27, 2023 at Sun City Suites, General Santos City.
All sectors grew in 2022, with the services sector having the highest growth rate, at 10.9 percent, among the three major industries. Services growth was mainly driven by wholesale and retail trade and financial and insurance activities, while the expansion of the industry was pushed by the manufacturing subsector. The agriculture output in the region likewise contributed to the growth accounting for 0.49 percentage points of the 6.6 growth rate.
The National Economic and Development Authority (NEDA) XII emphasized the need to continually strengthen the sector’s productivity and resilience against natural disasters, animal diseases, and climate change. The government continues to support consumers and affected sectors through the extension of reduced tariffs on various products, facilitation of an accessible food supply chain, reduction of transport and logistics costs, and other measures.
As the region is the top coffee producer in the country, a popular coffee brand that SOCCSKSARGEN will boast of in the next six years will be among the region’s strategies for improving agriculture’s productivity.
Through the SOCCSKSARGEN Regional Development Plan (RDP) 2023-2028, inclusive growth that creates more and better, green, and resilient jobs to enable Filipinos to improve their quality of life will be ensured. By implementing the strategies identified in the medium-term plan, the government shall protect Filipinos’ purchasing power, strengthen food production linkages and ensure nutrition improvement across all ages. Policies on developing the human capital further, improving worker’s productivity, and promoting measures for the efficient movement of people by reducing transport costs will be prioritized within the medium term.
“With the resumption of face-to-face classes, an increase in the activities of both small and large businesses, and the recovery of local tourism, we are optimistic that we will continue on our growth trajectory in the coming years.”, NEDA XII said.
The press conference convened by PSA XII via blended mode was attended by representatives from different regional line agencies, the PSA Central Office, private sector organizations, and members of the tri-media of SOCCSKSARGEN. Ms. Eden F. Ridao, OIC-Policy Formulation, and Planning Division, delivered the policy statement of NEDA, representing NEDA XII Regional Director Teresita Socorro C. Ramos. (PFPD, NEDA XII)